The recent announcement from the CBN stated that Heritage Bank’s banking license will be revoked.
This decision was made due to the bank’s financial struggles over the past 5 years and their issues with bad loans.
Under the leadership of Yemi Cardoso, the CBN finally decided to take this action.
Mercy Eke, who has an account with the bank, expressed her shock and disappointment at the news.
She mentioned that she was advised to open an account with Heritage Bank during her time in the BBN house to receive her winnings.
She had no idea about the bank’s financial troubles and had saved over N100 million with them.
While the NDIC has promised to reimburse customers with less than N5 million within a week, those with larger amounts will have to wait until the bank’s assets are liquidated.
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